TEMPO.CO, Jakarta - The remedy for the stock market's malaise did not come from the stock exchange authority or the trading floor, but from the parliamentary complex in Senayan, Central Jakarta. Amid pressure on the Jakarta Composite Index (IHSG) from late May through the first week of June 2026, a closed-door meeting held on the morning of Tuesday, June 9, shifted market sentiment.
Inside the office of Deputy House of Representatives (DPR) Speaker Sufmi Dasco Ahmad—whose portfolio typically covers political and security affairs—several executives from state-owned banks and government investment institutions gathered. Among them were Bank Negara Indonesia (BNI) Chief Executive Officer (CEO) Putrama Wahju Setyawan, Bank Mandiri CEO Riduan, Bank Rakyat Indonesia (BRI) CEO Hery Gunardi, Indonesia Investment Authority Board Chair Oki Ramadhana, as well as executives from Taspen and the Health Care and Social Security Agency (BPJS Kesehatan).
Accompanied by State Secretary Prasetyo Hadi and Daya Anagata Nusantara Investment Management Agency (Danantara) Chief Operating Officer Dony Oskaria, Dasco sent what appeared to be a "market rescue" signal. "Perhaps shares that currently have strong fundamentals can be bought back," he said, hinting at a plan for share buybacks by members of the Association of State-Owned Banks (Himbara).
Several analysts and market participants said the meeting was prompted by growing complaints from major investors trading through state-owned securities firms. The decline in the IHSG had reduced the value of their investments. Those concerns reportedly reached the Presidential Palace. The meeting and the buyback appeal were intended to ease investor anxiety. Asked for confirmation via text message on Friday, June 12, Dasco declined to comment.
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